87 FR 147 pgs. 47211-47212 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Type: NOTICEVolume: 87Number: 147Pages: 47211 - 47212
Pages: 47211, 47212FR document: [FR Doc. 2022-16475 Filed 8-1-22; 8:45 am]
Agency: Federal Reserve System
Official PDF Version: PDF Version
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
AGENCY:
Board of Governors of the Federal Reserve System.
SUMMARY:
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Inter-agency Guidance on Funding Liquidity Risk Management (FR 4198; OMB No. 7100-0326).
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance Officer-Nuha Elmaghrabi-Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, nuha.elmaghrabi@frb.gov, (202) 452-3884.
Office of Management and Budget (OMB) Desk Officer for the Federal Reserve Board, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.
SUPPLEMENTARY INFORMATION:
On June 15, 1984, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. The OMB inventory, as well as copies of the PRA Submission, supporting statements, and approved collection of information instrument(s) are available at https://www.reginfo.gov/public/do/PRAMain. These documents are also available on the Federal Reserve Board's public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears above.
Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection
[top] Collection title: Inter-agency Guidance on Funding Liquidity Risk Management.
Collection identifier: FR 4198.
OMB control number: 7100-0326.
Frequency: Annually.
Respondents: Bank holding companies, savings and loan holding companies, state-licensed branches and agencies of foreign banks (other than insured branches), corporations organized or operating under sections 25 or 25A of the Federal Reserve Act (agreement corporations and Edge corporations), and state member banks.
Estimated number of respondents: Implementation of Recordkeeping Guidance, 37; Ongoing Recordkeeping, 4,646.
Estimated average hours per response: Implementation of Recordkeeping Guidance, 160; Ongoing Recordkeeping, 32.
Estimated annual burden hours: 154,592.
General description of collection: The Interagency Policy Statement on Funding and Liquidity Risk Management (Guidance) was issued to provide consistent interagency expectations on sound practices for managing funding and liquidity risk. The Guidance includes a number of voluntary recordkeeping provisions that apply to the respondents listed above. The recordkeeping provisions relate to liquidity risk management policies, procedures, and assumptions, and contingency funding plans.
Legal authorization and confidentiality: The recordkeeping provisions of the Guidance are authorized pursuant to sections 9(6), 25, and 25A of the Federal Reserve Act? 1 (for state member banks, agreement corporations, and Edge corporations, respectively); section 5(c) of the Bank Holding Company Act? 2 (for bank holding companies); section 10(b)(3) of the Home Owners' Loan Act? 3 (savings and loan holding companies); and section 7(c)(2) of the International Banking Act? 4 (state-licensed branches and agencies of foreign banks, other than insured branches). The FR 4198 recordkeeping provisions are contained within guidance, which is nonbinding, and therefore are voluntary.
Footnotes:
1 ?12 U.S.C. 324, 602, and 625.
2 ?12 U.S.C. 1844(c).
3 ?12 U.S.C. 1467a(b)(3).
4 ?12 U.S.C. 3105(c)(2).
Because these records would be maintained at each banking organization, the Freedom of Information Act (FOIA) would only be implicated if the Board obtained such records as part of the examination or supervision of a banking organization. In the event the records are obtained by the Board as part of an examination or supervision of a financial institution, this information may be considered confidential pursuant to exemption 8 of the FOIA, which protects information contained in "examination, operating, or condition reports" obtained in the bank supervisory process. 5 In addition, the information may also be kept confidential under exemption 4 of the FOIA, which protects nonpublic commercial or financial information, which is both customarily and actually treated as private by the respondent. 6
Footnotes:
5 ?5 U.S.C. 552(b)(8).
6 ?5 U.S.C. 552(b)(4).
Current actions: On April 6, 2022, the Board published a notice in the Federal Register (87 FR 19927) requesting public comment for 60 days on the extension, without revision, of the FR 4198. The comment period for this notice expired on June 6, 2022. The Board did not receive any comments.
Board of Governors of the Federal Reserve System, July 27, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-16475 Filed 8-1-22; 8:45 am]
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